FMS - "The Foundation Customer", page-516

Talking about negative posts...

As a long term FMS shareholder who rejected the 30cent offer from MMK ( silly me) I have always been pro Flinders and very pro Flinders United ( all of us). I would love to go to production, if everything was under the Flinders Mines umbrella.... But that won't be the case.

Looking at our recent history with Flinders Mines under Todd control.... If the plan was for Flinders Mines to lease the ability for BBIG to Mine up to 50 MT of iron ore annually directly, and we received an up front payment of 15 cents per share, and then royalties of $10 US a tonne with 95% going straight to shareholders, that would be a really great deal for all of us, and you wouldn't find any deal better.. (similar to Clive Palmers deal)

Agreeing to sign over all of our Flinders Mines tenements to PIOP MineCo (a private company) for probably a pittance could be a bridge too far for many shareholders, including me. Would you sign over your house deeds to someone you don't really know for a pittance.... I wouldn't.

So what's left for minority shareholders, we don't appear to be wanted in the big picture... No Production ... No Royalties ... everything will get very complicated when private companies are involved. Many have been talking about a Takeover Offer of between $3 and $5 a share...but that is unrealistic. The consensus now appears to be from many shareholders to accept $1 plus a share. Very disappointing really especially after a previous Flinders boss said that FMS was worth around $1.74 cents a share (approx), and now we have a lot more iron ore.

So the only negative feelings I have is that Flinders Mines isn't going to production in its own right with all of us minority shareholders, unfortunately I now believe that isn't a reality any more. OCJ will always act in the best interest of themselves, and rightly so, but what they do may also benefit all of us... we are yet to find out... so no negativity there.

Percentages... with the top 20 shareholders controlling 86.48% of the total share register, doesn't leave much room for the other 4,008 shareholders to go... With the top 2 shareholders controlling around 78%, the other 4,026 shareholders have approx 22%... There are 3,234 Flinders Shareholders holding under 100,000 shares... so a positive thing that could happen (and we don't know) is for everyone to receive $1 plus a share... that would be a great Christmas Gift ... is that possible, who knows.. we just have to wait and see what happens next....

The positive things that have come from this, apart from being a great buying opportunity, (in my opinion) is the many friends we have made through our “Flinders United Group”... although many of us have written off our shares a long time ago... we also still believed in FMS enough to even buy more shares... because we also have hope... Todd have to move forward, we have to move forward... there is nothing negative about moving forward and hoping to receive $1 plus a share, many would think this is a bargain for Todd.... Just my opinion.. not advice.... SET